Best Prac*ces in Corporate Card Expense Management May 2012

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1 Proprietary & Confiden0al Not to be distributed without the express wri9en consent of BMO Financial Group Best Prac*ces in Corporate Card Expense Management May 2012

2 Agenda Industry Trends and Best Prac0ces Increasing Compliance Iden0fy the five W s (who, what, where, when and why) Maximize cost savings beyond automa0on Review audit prac0ces Importance of data consolida0on Q&A

3 Industry Trends in Expense Management Mixed financial outlook - elimina0ng travel is not an op0on Employee produc0vity is key Difficulty determining the cost of air travel with ancillary fees Increased focus on audit and fraud detec0on Greater visibility into spend data Vendor consolida0on Data consolida0on is a reality

4 Card Best Prac*ces: Maximize Spend Capture Conduct T&E program benchmarking Conduct a method of payment analysis Compare GL spend by category Analyze Accounts Payable method of payment Cross reference cardholder lis0ng with ac0ve travel profiles

5 Trend: Driving Coopera*ve Spend Capture Implement a rewards program Study: 50 Large Diners Club MasterCard T&E Programs Par0cipa0on in Club Rewards - 86% allowed rewards - 27% of cardholders par0cipated - Driving 63% of booked charge volume - Average spend per card: Programs with rewards: $12,403 Programs blocking rewards: $6,601

6 Card Best Prac*ces to Minimize Misuse Clearly defined policy - senior level endorsement Prohibit personal spend Include clearly worded disciplinary consequences Establish visibility that audits DO take place Establish an Infrac0on Database Employee ID Chart of accounts code (site code, department code, cost center) Manager employee ID Date of infrac0on Infrac0on Type (use consistent infrac0on coding) Linked reports

7 Card Best Prac*ces to Minimize Misuse Leverage card repor0ng to: ü iden0fy and cancel inac0ve ghost accounts ü analyze transac0on declines ü compare cancelled card with terminated employees

8 Rebate Op*miza*on Best Prac*ces Focus on Speed of Pay - Central air bills - Mee0ng and events cards Leverage card program s global repor0ng - Customize repor0ng Problem card holders on one report - Proac0vely review 30, 60, 90 day aging reports Low and no spend cards pose poten0al risk and rebate impact

9 Who, What, Where, When and Why Travel budgets are being scru0nized Impossible to accurately report spend in a manual environment Automa0ng your expense repor0ng gives you access to this data Easily run reports on who, what, where, when and why Ask the strategic ques0ons and make informed decisions For example: You can leverage this data for vendor selec0on and nego0a0on Incur travel for training or should leverage an online system? If you do not have the data, then it is just a guess

10 Beyond Automa*on Automa0on will achieve significant ROI and cost savings Go beyond automa0on to improve the process and savings

11 Iden0fy unique areas for opera0onal savings: VAT Recovery Rebilling FX leakage Cash flow Look at outsourcing repe00ve tasks: Audit Reimbursements System Admin End User help desk Receipt digital filing is the standard for receipt management Consolidate travel and spend data for holis0c view For every $1 of travel spend there is $2 to $5 of non travel spend that can follow the same process

12 Audit and fraud detec0on is no longer a dirty word 13% of company fraud is in expense reports Source: Associa0on of Cer0fied Fraud Examiners Economic climate increases likeness of fraud Required for internal and external compliance Inten0onal and uninten0onal fraud Consider increasing audit rate Monitor expense types that are prone to fraud Mileage, 0ps, individual and group meals, lost receipts, etc. Look at spending pa9erns of employees Low dollar categories are open the target for fraud

13 Consolidate Data Streams Most organiza0ons have adopted online travel booking Booking data represents the planned or proposed expense Consolidated with card and expense data to provide: Booked vs actual varia0on Who is not booking through the online tool or agency Compliance and policy excep0ons Challenge for this integra0on is to not overburden the traveler: Don t force them to perform more reconcilia0on than they have to

14 Summary Business travel and access to spend visibility is cri0cally important Corporate cards are the founda0on for expanding spend capture The holis0c view of data including card, expense and travel increases through integra0on among these systems Integrated expense repor0ng enables: Be9er end user efficiency and compliance Broader and granular visibility of data More efficient and effec0ve business decisions

15 Ques*ons Joe Monaghan Senior Consultant, Spend & Payment Advisors BMO Financial Group

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